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The Hindu Analysis Free PDF Download

Date: 25 January 2021

Changing climate | Ind Exp

  • One of the first decisions taken by Joe Biden
  • Environment - Paris Climate Change Pact
  • Health - World Health Organisation
  • Biden said on his inauguration that on “climate and a range of other issues, the US will engage with the world once again”.
  • WHO’s 16% budget is financed by USA
  • USA is world’s second-largest GHG emitter
  • Paris Agreement Objective: to keep temperature rise in this century under 2 degrees Celsius
  • “Build Back Greener” - focus on communities of colour, “who have suffered disproportionately from fossil fuel pollution”.
  • National silos are ill-equipped to deal with global challenges
  • Unresolved fisheries conflict in the Palk Bay
  • 4 fishermen from Tamil Nadu – DEAD
  • India has lodged a strong protest with the Sri Lankan authorities
  • Sri Lanka has set up a committee to find a permanent solution to the incursions by Indian fishermen

  • Ind-SL resumed discussions through their Joint Working Group on fisheries after a three-year gap.
  • There would be no violence or loss of life
  • Hotline would be established
  • Replacing trawlers with deep sea fishing vessels
  • Sri Lanka favours joint patrolling
  • Tamil Nadu want a lengthy phase-out period
  • So far there has not been enough political resolve to end this conflict.

After the storm

  • RBI has proposed a significant shift in its regulatory approach towards India’s non-banking financial companies (NBFCs)
  • From a light approach to tough monitoring
  • The size of NBFC balance sheets is now more than a quarter of that of banks’ balance sheets, from just about 12% in 2010.
  • In absolute terms, their balance sheets have more than doubled, from ₹20.7-lakh crore in 2015 to ₹49.2-lakh crore in 2020.
  • IL&FS, unravelled in 2018, with its payment defaults catalysing a crisis for the entire sector.
  • The collateral damage meant NBFCs could not raise funds easily, and faced liquidity pressures.
  • Laissez-faire approach for small NBFCs
  • Plugging some of the arbitrages available to mid-sized NBFCs vis-à-vis banks
  • Imposing tougher ‘bank-like’ capitalisation, governance and monitoring norms for the largest players and those which could pose a systemic risk due to the nature of their operations.

A big push for education

  • 24-Jan is International Day of Education
  • UNGA - to honour education and its value to humanity and sustainable development
  • 2021 theme: ‘Recover and Revitalize Education for the COVID-19 Generation’
  • Covid affected education of 1.6 billion students - 190 countries
  • India - 1.5 million school closures  - affected about 286 million schoolchildren
  • UNESCO estimates that of the $11.8 trillion global COVID-19 fiscal response, a mere 0.78% (or $91 billion) was allocated to education, with $73 billion spent in high-income countries.
  • On average, it is estimated that South Asia allocated 0.85% of its fiscal package to education, compared to 0.73% for Europe and North America and 0.69% for Latin America and the Caribbean.
  • Information and Communication Technology
  • Remote learning remains out of reach for more than 500 million students globally
  • More than half the world’s student population, still face significant disruptions to their education
  • Increase funding and make education systems more resilient, inclusive, flexible, and sustainable.

The shipping sector is at sea

  • The potential of shipping as a contributor to economic growth
  • China is trying to take control of the Bay of Bengal and the Indian Ocean Region.
  • World Shipping Council: seven of the top 10 container ports in the world are in China

  • Prior to the 16th century, both India and China were equal competitors on GDP.
  • Historical records prove that India had maritime supremacy in the world.
  • But over the past 70 years, India has lost its global eminence in shipping due to poor legislation and politics.
  • Visionless admin
  • All of India’s actions on the shipping front have been counter-effective
  • All the shipping infrastructure in peninsular India only helps foreign shipping liners.
  • Given this state of affairs, members of our maritime business community have also preferred to be agents for foreign ship owners or container liners rather than becoming ship owners or container liners themselves.
  • If we make our major ports cargo-specific, develop infrastructure on a par with global standards, and connect them with the hinterlands as well as international sea routes, they will automatically become transhipment hubs.

Sagarmala

  • Port-led industrialization
  • Development of world-class logistics institutions
  • Coastal community development
  • Short sea and river voyages should be encouraged.
  • The ship-owning spirit of the Indian merchant marine entrepreneur has to be restored.
  • Coastal communities should be made ship owners.

NEWS

  • PM Modi to interact with Pradhan Mantri Rashtriya Bal Puraskar awardees today
  • President Ram Nath Kovind to address nation on eve of 72nd Republic Day
  • National Voters’ Day being observed across the country today
  • Nepal PM KP Sharma Oli expelled from ruling Communist Party over dissolution of Parliament
  • Elon Musk's SpaceX creates new world record; launches 143 satellites on single rocket
  • PM Modi says Republic Day parade pays tribute to India's great social, cultural heritage & strategic strength
  • WHO thanks India and PM Narendra Modi for continued support in fight against COVID-19
  • National Girl Child Day (24-Jan): Vice President urges parents to give every opportunity to nurture talent of daughters
  • Rajendra Kumar Bhandari selected for Subhash Chandra Bose Aapda Prabandhan Puraskar
  • China empowers its coastguards to fire on foreign ships to prevent threats
  • India- Bangladesh hold Joint Steering Committee meeting on power sector
  • British PM says he looks forward to working with US president Joe Biden on shared goals